Harvest Fund Management Co. Ltd Makes New Investment in Cars.com Inc. (NYSE:CARS)

Harvest Fund Management Co. Ltd bought a new position in shares of Cars.com Inc. (NYSE:CARS) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 6,283 shares of the company’s stock, valued at approximately $119,000.

A number of other hedge funds also recently added to or reduced their stakes in CARS. Vanguard Group Inc. raised its holdings in Cars.com by 1.3% in the third quarter. Vanguard Group Inc. now owns 7,134,768 shares of the company’s stock valued at $120,292,000 after buying an additional 89,194 shares during the period. American Century Companies Inc. boosted its holdings in Cars.com by 3.0% in the 3rd quarter. American Century Companies Inc. now owns 873,569 shares of the company’s stock worth $14,728,000 after acquiring an additional 25,382 shares during the period. Boston Partners grew its position in Cars.com by 599.5% in the third quarter. Boston Partners now owns 782,912 shares of the company’s stock valued at $13,051,000 after acquiring an additional 670,982 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of Cars.com by 19.6% during the third quarter. Nordea Investment Management AB now owns 266,555 shares of the company’s stock valued at $4,507,000 after purchasing an additional 43,667 shares during the period. Finally, Knights of Columbus Asset Advisors LLC lifted its position in shares of Cars.com by 94.6% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 252,384 shares of the company’s stock worth $4,788,000 after purchasing an additional 122,665 shares in the last quarter. 89.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barrington Research reaffirmed an “outperform” rating and set a $25.00 price target on shares of Cars.com in a report on Thursday, February 22nd. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Cars.com has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

Insider Buying and Selling

In other news, CEO Thomas Alex Vetter sold 14,999 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $19.00, for a total transaction of $284,981.00. Following the completion of the transaction, the chief executive officer now directly owns 553,886 shares of the company’s stock, valued at $10,523,834. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Thomas Alex Vetter sold 14,999 shares of the stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $19.00, for a total value of $284,981.00. Following the completion of the transaction, the chief executive officer now owns 553,886 shares in the company, valued at approximately $10,523,834. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas Neal Miller sold 1,823 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $18.50, for a total transaction of $33,725.50. Following the transaction, the insider now owns 181,596 shares in the company, valued at approximately $3,359,526. The disclosure for this sale can be found here. Insiders have sold 34,488 shares of company stock worth $654,361 over the last ninety days. 1.59% of the stock is owned by insiders.

Cars.com Price Performance

Shares of CARS stock opened at $16.89 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.22 and a quick ratio of 1.22. Cars.com Inc. has a 1-year low of $14.82 and a 1-year high of $22.84. The firm has a fifty day moving average of $17.33 and a two-hundred day moving average of $17.81. The firm has a market cap of $1.12 billion, a P/E ratio of 9.76 and a beta of 2.05.

Cars.com (NYSE:CARS) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.07). The firm had revenue of $179.60 million for the quarter, compared to analyst estimates of $178.40 million. Cars.com had a net margin of 17.19% and a return on equity of 25.78%. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.15 EPS. As a group, research analysts anticipate that Cars.com Inc. will post 0.55 earnings per share for the current fiscal year.

Cars.com Company Profile

Cars.com Inc, through its subsidiaries, operates as a digital automotive marketplace that connects local car dealers to consumers in the United States. The company offers a suite of digital solutions that creates connections between individuals researching cars or looking to purchase a car with car dealerships and automotive original equipment manufacturers.